Arlington Rents Drop 15%

Arlington Rents Drop 15%
A survey of the nation’s 50 largest cities finds that COVID-19 disrupted the rental market in expensive cities, like Arlington. The change in annual trend started late March as COVID-19 concerns intensified. At the same time rents rose in midsize cities. The survey notes that expensive rental markets possess many renters able to telework, eliminating the need to live close to work. Also, laid-off workers became unable to continue paying high rents. The farther away from city centers, rents have not declined as much. Further declines are not anticipated. Survey at Apartment List